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Green Credit Programme UPSC NOTE

 Why in news

  • Weeks after the Union Environment Ministry announced the rules for its Green Credit Programme (GCP).

  • 10 States have identified parcels of degraded forest land.

  • Its totalling about 3,853 hectares.

  • That will be available for individuals, groups, public and private sector units to earn and potentially trade green credits.

  • A perusal of public documents suggests that Chhattisgarh and Madhya Pradesh alone account for up to 40% of the forest land made available.

  • Under the scheme, registered and approved entities can pay to finance afforestation projects in specific tracts of degraded forest and wasteland. 

  • The actual afforestation will be carried out by State forest departments.

  • Two years after planting — and following an evaluation by the International Council of Forestry Research and Education (ICFRE), an autonomous body of the Environment Ministry — each planted tree could be worth one ‘green credit’.

Green Credit Programme (GCP)

  • A market-based incentive program launched by the Indian government.

  • Aims to encourage individuals, organizations, and local bodies to take voluntary actions that benefit the environment.

  • Participants earn "green credits" for undertaking activities in eight areas

    • Tree plantation

    • Water conservation

    • Sustainable agriculture

    • Waste management

    • Air pollution reduction

    • Mangrove conservation

  • Ecomark products (environmentally friendly)

  • Sustainable building and infrastructure

  • Each activity has specific thresholds and benchmarks to qualify for green credits.

  • A dedicated website will be used for registration and verification of activities.

  • Green credits are awarded based on factors like resource use, project scale, and environmental impact achieved.

  • Earned credits can potentially be traded on a proposed domestic green credit market platform.

  • Promotes environmental consciousness and motivates collective action towards sustainability.

  • Rewards positive environmental practices beyond just carbon reduction.

  • Complements the existing carbon credit system for a more holistic approach.

  • Part of the government's LiFE (Lifestyle for Environment) campaign.

  • Programme administration falls under the Indian Council of Forestry Research and Education.

  • Green credits earned due to legal obligations cannot be traded.



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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: Green Credit Programme UPSC NOTE
Green Credit Programme UPSC NOTE
Learnerz IAS | Concept oriented UPSC Classes in Malayalam
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